What would you recommend as far as a good color-coding for use on a Storyboard?
Is this a good pattern from your experience?
http://maxheapsize.com/static/ScrumBoardCheatSheet.pdf
What is the most standard color-coding?
I suggest white for normal backlog items, i.e. those with business value, and red for bug fixes. This makes mistakes stand out and helps the team improve.
Start simple - as simple as you dare make it - and allow innovations as suggested by the Scrum team during sprint retrospectives. Only one innovation at a time; try it for long enough to see how well it really works; drop them if they aren't truly necessary.